The Pink Panther is at it again and as he celebrates his 45th anniversary, MGM is launching a new kid-focused licensing program that centers around a new series airing on Cartoon Network.

Pink Panther & Pals will target the four-to-eight crowd while retaining the classic humor, antics and slapstick elements that are associated with the original cartoons, says Tricia Samuels Laudisa, executive director of worldwide licensing and consumer products. However, the property has been modernized to appeal to today’s youth, so Pink Panther and his friends have been reworked as teenagers and Pink Panther himself sports a skateboard and an iPod.

Samuels Laudisa says the products will target kids three to seven, with product beginning to hit all tiers of retailers worldwide in fall 2010 or spring 2011. She’s on the hunt for a master hardlines partner at Licensing Show this week, also noting that the property would play well into publishing, plush and other softlines.

Warren Schorr, executive director of worldwide marketing and retail development, says MGM is looking for things that play off the Pink Panther’s energetic mischievous, sly, playful nature, and lists outdoor activities and board games as other potential categories. Retail-wise, Schorr says that while he envisions this as a mass market program, he’ll be open to discussions on retail exclusives and DTR opportunities.

Schorr adds that the retro elements of the classic Pink Panther animated series has had success with juniors and tweens, so MGM will also be looking for opps to expand in that area.